Prime Minister Narendra Modi had inaugurated the new terminal building at the airport on October 22.
"The airport should be renamed after King Sayajirao Gaekwad III and it will be a tribute to the great ruler and maker of the modern Vadodara city (formely known as Baroda)," Ramdev told PTI.
He was in the city to attend an event.
Renaming of the airport after Gaekwad III is justified taking into consideration the role he played in the development of Vadodara city, he added.
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